For First Time RUSNANO Pays Government Half of Its Net Profit
On 17 July 2018, RUSNANO paid the state dividends based on its financial results in 2017 amounting to RUB 537.5 mln, which is 50 precent of its net profit according to Russian Accounting Standards (RAS). The corresponding decision was made by Rosimushchestvo (the Federal Agency for State Property Management) during RUSNANO’s annual general meeting.
100 precent of the company shares are owned by the government. According to RAS reports, RUSNANO’s net profit in 2017 amounted to RUB 1.057 bln and the company has remained profitable for the last 4 years.
Deputy Chairman of the Executive Board and Executive Director at the RUSNANO Management Company LLC, Boris Podolsky, said: “The first dividend payment to the government confirms that the self-financing strategy for developing the nanoindustry has already been launched. The government investment in RUSNANO has paid off due to taxes generated by the new nanotechnology manufacturers, while stable financial results have allowed us to share half of our profits with our only shareholder for the first time.”
RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 97 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 4 years.
Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.
Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.